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The Latest Breaking News from Caixin

Weekly Must-Read: Race Is on to Become China’s SpaceX

Chinese startup LandSpace Technology became the world’s first private company to launch a methane-liquid oxygen carrier rocket, leaping ahead of local rivals including GalaxySpace, Chang Guang Satellite and i-Space

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Weekly Must-Read: China Vows to Create a ‘Bigger, Better, and Stronger’ Private Sector

Measures aim to create a more level playing field for private businesses and entrepreneurs amid sluggish economic growth

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Shanghai Composite Index Fell 0.11% on Monday

Shenzhen Component Index closed down 0.58%

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Weekly Must-Read: U.S. Sanctions Have Been Bad for Huawei, but Worse for Its Chip Design Unit

HiSilicon’s share of the global application processor market for smartphones has been bupkis for four straight quarters since April 2022, analyst report shows

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Local Financial Regulatory Bodies Announce Names Changes in Sweeping Overhaul

Switch affects almost 350 local branches under the now-defunct CBIRC

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Weekly Must-Read: China Looks to Saudi Arabia Amid Shifting Sands in U.S. Economic Ties

A recent flurry of political and business exchanges represents Beijing’s highest-level diplomatic engagement with Arab nations since the founding of the People’s Republic of China

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Six Killed in South China Kindergarten Attack

A 25-year-old male suspect has been arrested in connection with the ‘intentional assault’ in Lianjiang, Guangdong province, authorities say

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Stock market today: Asia sinks after a survey shows China's industrial activity is weakening

Asian stock markets are lower after a survey showed Chinese industrial activity weakening

The Independent UK

Stock market today: Asia sinks after survey shows China activity weakening

Asian stock markets are lower after a survey showed Chinese industrial activity weakening

The Independent UK

Ex-PBOC Deputy Head Arrested on Suspicion of Bribery

Fan Yifei now faces criminal investigations, China’s top prosecutor says

Caixin Global

Weekly Must-Read: China Grapples With Hangover From Consumer Lending Boom

The banking regulator has expanded a pilot program for disposal of nonperforming personal loans, allowing hundreds of financial institutions to offload their bad debt

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Weekly Must-Read: U.S. Tensions Could Sap Chinese EV-Battery Makers’ Global Ambitions

World leader CATL and its peers face policy headwinds in the West that could benefit South Korean, Japanese rivals

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Chinese Computer Maker Says Its Chip was Made With ‘Support’ From Intel

Powerleader Computer System came under fire after industry experts revealed its new processor unit was seemingly identical to a product made by the U.S. giant

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Weekly Must-Read: China’s Proposed New Curbs on Private Securities Funds Spark Controversy

Draft rules tightening control of fundraising, investment and management have triggered concerns they will constrain securities funds’ freedom to execute their investment strategies

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China Battery Maker CALB Rescinds Job Offers to Hundreds of Fresh Graduates, Sources Say

The move comes amid belt tightening due to shifting market demand in the electric vehicle market

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Weekly Must-Read: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

Caixin Global

Shenzhen Residents Evacuated From Building After Support Column Cracks

More than 1,000 people were ordered out of the 14-story mixed-use building, with authorities still investigating the cause of the incident

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China’s First-Quarter Light-Industry Exports Fall 2.63%

Decline in bellwether for total exports reflects soft European and U.S. demand for consumer goods like footwear, furniture, toys and kitchenware

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Weekly Must-Read: What’s Behind China’s ‘Missing’ Foreign Exchange Reserves

The mismatch in the trade surplus and foreign exchange reserve data reflects that wealth is being held increasingly by the people, not the state

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Major Covid Outbreak ‘Unlikely’ in Near Term, Expert Says

Official data show infections nationwide remains low, with the number recorded in early April at ‘the lowest level’ since December

Caixin Global

ING Sues ICBC for $171 Million in Copper Deal Losses

Dutch banking giant alleges breach of contract by China’s largest bank in transactions involving copper trader Maike Metals

Caixin Global

Another Shanghai Exchange Official Comes Under Graft Investigation

Liu Ti, former deputy general manager, is taken away by authorities, joining a parade of senior securities industry officials ensnared in crackdown

Caixin Global

Hospital Fire Kills 21 People in Beijing

Blaze starts around noon in eight-story inpatient wing of Changfeng Hospital in Fengtai District; cause under investigation

Caixin Global

Weekly Must-Read: China’s EV Battery Boom Goes Bust

The rush to build up capacity as vehicle sales surged over the last few years has led to an overhang that resulted in production and job cuts, as well as falling prices

Caixin Global

Weekly Must-Read: Raging Price War Poses Survival Threat for Automakers

Only a handful of EV and smart car winners may remain standing as China’s crowded vehicle industry faces a massive shake-out

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